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SunSirs: Market Transaction is Heating up Locally, Supporting the Price of Chinese Cocoon Silk to Maintain a Volatile Upward Trend
January 15 2021 08:28:14SunSirs(Linda)

According to SunSirs price monitoring, the domestic cocoon silk market price maintained a volatile upward trend in January 2020. As of January 14, the average price of raw silk in the raw silk market was 327,500 yuan/ton, an increase of 2.99% from the beginning of the month and a year-on-year decrease of 13.36%. The price is 99,500 yuan/ton, up 5.01% from the beginning of the month and down 14.22% year-on-year. The current price of dry cocoon in Guangxi is 94,000 yuan/ton, and the price of raw silk is 330,000 yuan/ton.

Entering January 2021, the market has returned to light after the Christmas, New Year's Day and other holiday orders have passed, and subsequent orders have been insufficient, but orders for the Spring Festival have been prepared in advance. Recently, the downstream silk and satin market has been relatively smooth, and the inventory pressure has been reduced. The silk market is short of raw materials and insufficient supply of goods, which provides certain support for price increases. In addition, various macro positive stimuli have played a certain role in boosting silk prices.

SunSirs analysts believe that the recent market transactions have partially heated up, and textile companies have performed well in receiving orders. However, as the epidemic repeats, continuous downstream stocking will bring resistance. At the same time, as the traditional year-end stocking movement gradually ends, it is expected that textiles and clothing may be Slowly exhausting the library, the price of cocoon silk is expected to fluctuate and fall back.

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